Rate Cuts Are Bright Spot
Amid Widespread Gloom

Several European central banks cut interest rates in unison, providing an adrenaline rush for Europe's main stock markets.

But Europe's rate cuts provided one of the few bright spots in the world stock markets Thursday, as big declines in the American markets and further gloom in Asia helped drag the Dow Jones World Stock Index down 1.33 points, or 0.69%, to 191.72.